These increases in bank borrowing rates have flowed through into mortgage interest rates charged to new customers rising between 1.3% and 1.8%. It was only just over 6 months ago that a borrower could lock in a five-year fixed rate for 2.99%. Now that rate is almost 5%.
It is however not just the high inflation rate (expected soon to reach 6%) that tells us that the economy is growing at an unsustainable pace. There are many other measures and here are a few of them.